Dodge's wings and favoured elevation (8)
I believe the answer is:
sidestep
'dodge's' is the definition.
('sidestep' can be a synonym of 'dodge')
'wings and favoured elevation' is the wordplay.
'wings' becomes 'sides'.
'and' is a charade indicator (letters next to each other).
'favoured' becomes 'pet' (as in a pet project).
'elevation' is a reversal indicator.
'pet' reversed gives 'tep'.
'sides'+'tep'='SIDESTEP'
(Other definitions for sidestep that I've seen before include "Shift to right or left" , "Dodge - circumvent" , "Find a way round" , "To avoid" , "Dodge (an issue?)" .)